Union Finance & Corporate Affairs Minister Nirmala Sitharaman announced a slew of measures to provide relief to diverse sectors affected by the second wave of COVID-19 . The measures announced aims to provide impetus for growth and employment.
Free One Month Tourist Visa to 5 Lakh Tourists
Free one month tourist visa to 5 lakh tourists is another scheme aimed at boosting the tourism sector. It envisages that once Visa issuance is restarted, the first 5 lakh Tourists Visas will be issued visa free of charge to visit India. However, the benefit will be available only once per tourist. The facility will be applicable till 31st March, 2022 or till 5 lakh visas are issued, whichever is earlier. Total financial implications of the scheme to the government will be Rs 100 crore.
Loan Guarantee Scheme for Tourism Stakeholders
Under new Loan Guarantee Scheme for COVID-affected sectors, working capital/personal loans will be provided to people in tourism sector to discharge liabilities and restart businesses impacted due to COVID-19 pandemic. The scheme will cover 10,700 Regional Level Tourist Guides recognised by Ministry of Tourism and Tourist Guides recognised by the State Governments, and about 1,000 Travel and Tourism Stakeholders (TTS) recognised by Ministry of Tourism.
Travel and Tourism Stakeholders will be eligible to get a loan up to Rs. 10 lakh each while tourist guides can avail loan up to Rs 1 lakh each. There will be no processing charges, waiver of foreclosure/prepayment charges and no requirement of additional collateral. Scheme to be administered by the Ministry of Tourism through NCGTC.
